Inclusions of PassionIt is a rare and wonderful moment when your career and your passion come together. As gem dealers we enjoy working with rare stones and the passionate people who sell them. While we are always rich in friendships, we occasionally are rich in profits. But it is the highest pleasure when your passion for gems comes together with other passions, the passion (in my case) for speed! Look at this inclusion in a 1.41 carat oval emerald.

A classic three phase inclusion, unless you are a speed freak and happen to notice that the outline of the gas bubble is an exact copy of the track map of the 9-turn roadracing course Willow Springs! How rare is that?

Discovering this was the moment when passions collided! The simple act of increasing the magnification to 40x brought me immediately to the racetrack! Through the oculars I could see the daunting 130 MPH Turn Eight at Willow Springs International Raceway where, for five intense years I competed on roadrace motorcycles. The flattened gas bubble in the three-phase inclusion happened to be in the exact shape of the track layout – nine fast turns and a long straightaway (see photos).

This felt to me like when the lady in Santa Fe saw Jesus in the burn marks of a tortilla; a revelation! I didn’t even have to turn the stone! Turn 2 was at the bottom and turn 8 was at the top. Rather than judging the inclusion and its alluring green surroundings, I found myself remembering the first time I saw the checkered flag there after pulling a passing move on my competitor in the entrance to Turn 9, slowing from 120 to 95 to take that turn right before the finish line. Further amazement came from the fact that the bubble only revealed the special shape at room temperature, approximately 68° Fahrenheit. As the microscope slowly heated the stone, the bubble lost its distinctive shape.

Photo: Gemologist Ringsrud in the fast sweeping Turn 2 at Willow Springs Raceway - a fifth gear turn taken at about 110 MPH.

It has become my all-time-favorite three-phase inclusion! Filled with passionate memories of trials and triumph – my intimacy with the race track includes some unwanted intimacy with asphalt: high-speed tumbling get-offs that sent me to a hospital twice as I learned from hard experience the intricacies of speed. My 18 trophies and plaques are all the more cherished since they came with such sacrifice. The number 14 was earned from accumulation of points from the previous season of racing with over 400 other amateur competitors.

The Italian Journal of Gemology, Rivista Gemmologica Italiana, loves the passion of racing (and also happened to have a fellow countryman, Valentino Rossi, as World Champion). They added the story of this wonderful inclusion to their publication:

Now, when I don't have time to go to the racetrack I simply put on my leathers, helmet and gloves and return to the scenes of my triumphs and tragedies in the shape outline of a simple 3-phase inclusion in a Colombian emerald:

Notice how the knee is firmly planted and the right wrist is down, indicating an aggressive full throttle acceleration on to the straightaway, er, rather, an aggressive twist of the microscope’s focusing knob (and how did that Dunlop sticker get on the side of my Bausch and Lomb microscope)?!

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Emerald News June '11 Impressive Price increases

After diamonds and gold, emeralds seem to be in demand all over the world, as reflected by rising prices. Part of that price increase is simply due to the fact that the dollar is losing strength and it takes more dollars to acquire the same product (like metals, gasoline, emeralds and some food items). About a year ago I sold a fine emerald with the sales pitch “buy it now; pretty soon your dollars won’t be worth anything anyhow!” That declaration seems even more true today!

Std. & Poor’s

The US Dollar didn’t get any help from the rating agency Standard & Poor's. They have changed their outlook for the U.S. Treasury's long-term debt to "negative" for the first time since it began rating US securities 70 years ago. Interesting to Emerald News was the fact that the country of Colombia also got a new rating from Standard & Poor’s: “investment grade.” This rating puts Colombia up with Brasil as the top two Southamerican countries for foreign investment.

Strong Demand for Colombian Emeralds

Gem laboratory EGL Hong Kong has begun offering reports for emeralds as well as ruby and sapphire. The state-owned Chinese laboratory NGGC has done the same. This reflects the strong demand for fine colored gems. “In Asia, and in particular in greater China, consumer demand for better quality colored gemstones is very much on the rise," said Joseph Kuzi, EGL Asia's CEO.

The Colombians emerald dealers returning from the March and April Hong Kong and Thailand shows were very happy with the very strong demand for emeralds. And, according to the head of Fedesmeraldas, Oscar Baquero, the production of emeralds at the Muzo, Coscuez, La Pita and Chivor mines is continuing as before, but growing “slowly.” Baquero said that the slow growth of emerald production is bolstered by other emeralds in various inventories being lured out into the market by higher prices.

Emerald Mine Concessions in Colombia

44 new emerald mining concessions have been granted by the Colombian Ministry of Mines in the last two years. Of those, 28 are in the stage of exploratory prospecting, some by non-Colombian companies. The other 16 are in the process of mounting actual mining operations in preparation for exploitation. This activity corresponds to the increase in demand as well as the higher emerald prices encountered in the past two years.

The Wall Street Journal recently published an article about emeralds – Elizabeth Taylor’s emeralds. “The stone’s most famous admirer might have to be the late Elizabeth Taylor, who collected more emeralds than husbands in her lifetime…” (Stephen Lewis March 29)

20 copies of the book Emeralds, A Passionate Guide were donated to the Gemological Institute of America (GIA) by emerald exporter German Sanchez. The gift goes to the Gemology teachers at the Institute as well as the professors on the road.

The World Land Trust and ethical emerald mining company Gemfields have collaborated with eight world-class jewellery designers to create a unique 'pop up' collection of bespoke emerald jewellery. The aim of the collection was to create awareness of the plight of the Asian elephant and to bring attention to the World Land Trust's Indian Elephant Corridor project, which is raising funds to save vital habitat for elephants in India.

The amazing necklace at the right is an example of the fabulous jewelry being designed using Zambian emeralds from the Gemfields operations.Gemfields is in the process of setting up a state-of-the-art faceting operation with cutting-edge technologies that will offer consumers quantities of emeralds in calibrated sizes, precision and special cuts and collections of suites, pairs, and matching earring sets. They will also venture into co-branding projects with large, reputed retailers, notably Gemfields has acquired a worldwide exclusive 15 year licence to use the Fabergé brand name for colored Gemstones.

Special Report:

Fedesmeraldas Advances Fair Trade practices in Colombia

Fedesmeraldas is the organization which represents the emerald miners, brokers and exporters in Colombia. Oscar Manuel Baquero has been the Director of Fedesmeraldas for the last three years.

Fedesmeraldas has for years devoted a small percentage of emerald export money to improving the mining region by supporting activities that benefit local and indigenous people, as well as respecting Colombia's environment. The region, Eastern Boyacá State, is lush, verdant semi-tropical and sparsely populated. However, there is unemployment and a lack of services. Since 2005 there have been projects inspired by a new understanding of the connectedness of the end product, emeralds, to the workers at the source, their families and the enviroment. Now these projects are coming to fruition.

<Left The Colombian Emeralds section of the Hong Kong Show 2011. Pictured is Gabriel Angarita of Perfect Emerald Ltd., Bogotá.

Pictured at the right, with Director Oscar Baquero, is a clothing co-op organized and supported by the organizations that Fedesmeraldas represents: the exporters group, the miners and the brokers as well as the Colombian mining department, IngeoMinas.

The emerald organization has created agricultural endeavors for the locals: farms for luffa, chocolate and oranges. These agricultural projects have given great incentive to the rural and indigenous locals who have not before had opportunities to better their lives.

A school in the town of Muzo, the Concha Medina de Silva School (pictured at right), has been opened and in Maripi and Borbur to the west, two clinics have been expanded. Just last month a well-stocked Miners' Safety Station was dedicated in the town of Muzo to respond to any mining emergencies in the area.

School activities for teaching emerald cutting in several locations in Colombia through a governmental entity called SENA has expanded.

Having been in the emerald mining region personally, I can say that these changes are really making a difference in the lives of many people. There is genuine pride in the people and in the organizers in being part of these projects. Just the last two years have seen much change.

These successes, taken one at a time, are remarkable and worthy of celebration. Taken together, they show nothing less than a true awakening of social betterment. Emerald News congratulates Fedesmeraldas and the organizations it encompasses:

ACODES - the exporters association

APRECOL - the miners organization

ASOCOESMERAL - the emerald brokers association

INGEOMINAS - in charge of all mining in Colombia

More to come: Ronald Ringsrud Company embarks on a project in Cundinamarca and in Boyacá - in next month's Emerald News.

Emerald Prices - More Emerald Price updates: The upward trend of emerald prices reported last month continues with news from a Sotheby's auction in Hong Kong in which a 12.88 carat cushion cut emerald sold for over $68,000 per carat. Sales activity at the upcoming Tucson Gem Show will reveal the strength of this trend.

A 12.88 cushion cut emerald mounted in platinum sold in Hong Kong for over $68,000 per carat.

"EmeraldHenge" Revisited!! Coming to my booth at Tucson are these gem quality emerald crystals. The smallest weigh 6 and 7 carats, and the four large crystals, all nicely terminated, weigh from 23 to 50 carats. See them at AGTA Booth 1219, Tucson Convention Center.

I am old-fashioned: no 'shopping cart' here just call or email and we can get to know each other and arrange a sale. Its easy! Old fashioned. You'll get personal service from a passionate connoisseur. 415 254 2474

Recently at the Bowers Museum and on exhibition at the GIA Museum before that.

This image shows (on the left) a woodcut of old Bogotá from the book Tour Du Monde by M. Edoard Charton of Paris. On the right is a photo taken two blocks from my house in Bogotá in 2010. Click here for another remarkable view.>>>

Other Enduring Things....Here is an image from gem adventurer Vince Pardieu of Lion Rock in the Chanthaburi River, Thailand. The Image below it is from another venerable French explorer from 1859.

The bar has been set higher for future gemological books.

Cheif Gemologist at GIA and co-author of the Photoatlas of Gemstones series, John Koivula tells it like it is in his foreword of Emeralds A Passionate Guide:

"This book is a true adventure, a work of imagination and creativity, and in that respect it is just like Richard Hughes’ Ruby & Sapphire. It is also a complement to John Sinkankas’ Emeralds and Other Beryls, and—most importantly—unlike many gem books, a book that is fun to read."

Elegant Barrel-cut emeralds.

Emerald cutter and artist Adolfo Argote (see Chapter 18 of Emeralds, A Passionate Guide) has surprised the dealers at the Emerald Trade Center in Bogotá, Colombia with a new look for emeralds. Seen before only in tourmalines, the Barrel-cut adds elegance to fine emeralds, reducing extinction and showcasing color. These emeralds, a 4.82 and a 4.46 carat stone (and a 6.40 not pictured), are in the $2500 to $3300/carat range.

EMERALDS, A PASSIONATE GUIDE: WELL-RECEIVED

READ THE REVIEWS AT EMERALDPASSION.COM

The book can be described as an introduction to the world of colored stones through the example of emerald. Rather than a mere introduction, this is a grand introduction with information that will elevate gemologists to the level of connoisseurs, as well as turn beginners into emerald lovers.

This hardcover book has 384 pages, 71 photomicrographs, and over 250 other photos and illustrations printed on the finest paper.

Read accolades from industry leaders:

Ron is a gemologist who approaches his chosen subject scientifically, but also as an artist and humanitarian. He is well known to gemologists around the world for his authorship of several excellent articles and descriptive notes on Colombian emeralds. In addition to being accurate, and enjoyable to read, Ron’s text is very imaginative in its descriptions.

Free-form cabochon briollettes, when they are emeralds, are called "Spanish Drops"

As is pictured in the title photo in Chapter 18 of Emeralds, A Passionate Guide, these Spanish Drops are back in fashion as a magical way to exhibit the fine color and exquisite inner nature of these Colombian emeralds. The eight larger pieces weigh 97.70 carats.

6.25 carats of primal beauty. The limits of digital web-based photography are being stripped here with this stone which costs over $30,000 per carat. Visit the video of this stone at this address: http://www.youtube.com/watch?v=VQAn_n75Dzc

The two larger emeralds (from Chivor Mine) are 40 carats EACH! Rarity to the Max

This 4.05 carat emerald is high clarity with strong saturation of color. An all-round fine emerald for less than $10,000 per carat. Call for price. I am not an internet seller - If you see a stone, any stone, that you are interested in, call my office and I will discuss it with you. I'm old fashioned; I like to talk to the client. SOLD

EMERALDS SURPRISE DEPRESSED GEM MARKETS WITH STRONG PRICES AND SALES

Three four carat emeralds create a lovely picture. This is what $60,000 looks like (12 carats total). It is a reminder to us that even after the Bugatti's tires are shredded, the motor is toast and the resale value dropped from 1.1 million to chump change, these emeralds will still have their value and more. Indeed, the best use of money is to buy beauty – emerald beauty. These stones are sold incividually.

Read the latest news about the miraculous stability of emerald prices in a world afflicted by recession and financial crisis.

Dec. 2009 - - Like real estate, stock market and employment figures, gemstones have gone down in price with the current recession, especially diamonds, tanzanite and tourmaline. However one gem, the Colombian emerald, has stayed remarkably stable in price even as demand weakens.

Stuart Robinson, Gemstone Editor of Gem Market News stated in the World of Gems Conference held last September in Chicago, that emeralds are looking to be the best deals of the coming year. They have been undervalued compared to other stones and are beginning to show strong demand. Now, nine months later in July 2009, his words still show veracity: the prices of diamonds and tanzanite have fallen quite dramatically while emerald prices, particularly of the finer Colombian emerald, have stayed steady and even risen is some cases.

Mr Robinson also said, “Compared to the alterations of corundum, emerald treatments are considerably less invasive. Enhancement does not create or change quality; you can’t take a low quality stone and turn it into a fine emerald.” It should be noted that emerald color always remains native; natural. Emerald enhancement alters the apparent clarity of the stone, not the color. Contemporary buyers, very aware that more new gem treatments have been introduced in the last ten years than in all of the fifty previous ones, seem at ease with the simple and old-fashioned enhancements still used with emeralds.

At any jewelry store’s bargain table there will be deals found but lately the comments point to a return to the big three of Ruby, Sapphire and Emerald, with emphasis on emerald. Deja Laufer, owner of Deja & Company Jewelers of Saratoga, California notes that prices of emeralds don’t seem to have changed in years, even as people are turning to it. Certainly it helps that for two years in a row, the Oscars prominently displayed emeralds on superstars’ bodies: that is, Cameron Diaz’s long emerald cabochon earrings in 2008 and Angelina Jolie’s immense 64 carat emerald ring with matching earrings in the Oscar ceremony in 2009. Michael Gad of Gad International, New York, is probably the world’s largest buyer and seller of Colombian emerald. He states that while business has slowed with the recession, his customers are paying the same prices for emeralds of Colombian origin, and even higher for some qualities.

Demand Remains Steady

The Hong Kong show is always an excellent barometer for the emerald market. At the recent June show in Hong Kong, the word was that the only goods moving were emeralds from Colombia and, to a small extent, diamonds.

Eileen Weatherby, an emerald dealer of three decades’ experience put a historic perspective on the emerald phenomenon, “Back in 1979–1982 there was a huge run-up in diamond and ruby prices when people went into those stones as investments. Emerald prices resisted that price inflation that the other stones had, and, more importantly, they resisted the price deflation of rubies and diamonds that occurred in 1983 when the bubble collapsed. Even back then – and as now – emeralds were a better long term investment.”

Mr. Robinson agrees: “I think overall it is an important time to report the price strength of emeralds. The reality is that emeralds prices favor consumers compared to the historical highs. As we move out of the recession retail confidence will return. When that happens emerald prices and demand are likely to move up quickly.”